• Ongoing in-fill and step-out drilling returns outstanding results, expanding initial drill program to 54,000m
• Step-out drilling delivers broad, high-grade mineralisation beyond existing resource and DFS open pit designs
• In-fill drilling confirms and locally exceeds current resource model

Ausgold Ltd has reported outstanding results from its ongoing drilling program at the Katanning Gold Project (KGP) in Western Australia. The initial 44,000m drill program has been expanded to 54,000m with five drill rigs now operating on site. Step-out drilling has delivered broad, high-grade mineralisation down-dip, beyond the limits of the existing 2.44Moz Mineral Resource Estimate and DFS open pit designs. Significant step-out results include 10m @ 2.24g/t Au from 346m, 6m @ 1.91g/t Au from 33m, and 13m @ 0.75g/t Au from 296m. In-fill drilling within the existing Mineral Resource also returned intercepts consistent with, and locally exceeding, the current Resource model, with highlights including 24m @ 0.89g/t Au from 69m and 20m @ 1.00g/t Au from 137m. Metallurgical diamond drilling within the early mine schedule confirmed locally higher grades than previously interpreted, with 8.0m @ 9.54g/t from 90m and 11.2m @ 1.93g/t from 72m. The Company has also made progress on project development, with a Binding Consultation and Cooperation Agreement signed with the local Aboriginal Corporation, and tendering and contract discussions underway for key development contracts.

Ausgold is targeting approval of key permits and a final investment decision for the Katanning Gold Project in Q4 2026.